cardano’s (ADA) downward trend, indicated by a death cross lasting for 25 days, has led to a drop in the coin’s value. Over the past month, the price has decreased by 16.09% as ADA continues to struggle with bearish market conditions.
Cardano on-chain strength amid price weakness
Based on information from CoinMarketCap, it seems that Cardano is moving towards a more pessimistic market condition, as indicated by its decline over the past seven days. Specifically, the value of ADA decreased by approximately 15.3% during this period, largely due to the continued presence of the death cross.
On May 24, 2025, Cardano experienced a ‘death cross’ on its daily chart, with the coin trading approximately at $0.7593. Since then, it has been on a steady decline, creating lower minimum points in the cryptocurrency market, as depicted by the price graph.
The bearish influence on Cardano has affected both its price and the feelings of investors. At the moment of press, a single Cardano is being traded for $0.6047, which marks a 2.86% drop in the last 24 hours. This downward trend has also caused trading volume to decrease by 18.22%, amounting to approximately $596.59 million.
Many investors usually focus on trading ADA in the short term because it’s been unable to break above the $0.70 mark, a hurdle it has encountered multiple times without gaining sufficient thrust. Cardano hasn’t yet managed to gather enough speed to surpass this resistance point.
Do Cardano ETF odds offer hope for ADA’s price?
In contrast to a pessimistic perspective, Cardano has recently risen to the peak in terms of network and social engagement.
The use of blockchain has seen a rise in transactions within staking pools and the distribution of rewards. Yet, this surge hasn’t resulted in an increase in ADA’s value.
It seems that Cardano investors could be in for some positive news as there’s an increased likelihood of an exchange-traded fund (ETF) being approved by the Securities and Exchange Commission (SEC), according to a recent Bloomberg forecast. The chances now sit at approximately 75%.
Observers in the market will closely monitor whether these favorable feelings have enough strength to help Cardano break free from its “death cross” pattern.
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2025-06-18 15:14